Handelsblat: The West decided not to disconnect Russia from the SWIFT system

This was reported by the German newspaper Handelsblatt, citing unnamed government sources in Germany.

As Deutsche Welle clarifies, the West considered that disconnecting Russia from SWIFT would entail too many problems. In the short term, it could lead to the destabilization of financial markets, and in the medium term, to the creation of an alternative payment infrastructure in which the West would not play a dominant role.

However, according to Reuters, a decision on SWIFT has not yet been officially made. Instead, tough economic sanctions are being prepared against the largest Russian banks, which can be introduced in the event of an escalation of the conflict between the Russian Federation and Ukraine. At the same time, Germany insists on exceptions in order to ensure further payments for Russian gas and oil supplies.